Hotels In Tennessee
Brand vs. independents: Who holds the premium?
NASHVILLE, Tennessee—To brand or not to brand? As hotel owners and investors look to leverage recovering performance fundamentals, the question of whether to affiliate a property with a chain or to go it alone as an independent has become more important than ever.
Hotel chains, on one hand, provide reservations support, marketing, guest loyalty programs, brand standards (i.e. quality assurance) and lender comfort—but at a cost.
Independents, on the other hand, provide freedom and a sense of uniqueness—but without the support of a major affiliation.
A set of panelists set out to parse the respective pros and cons of either approach during a breakout session at last week’s Hotel Data Conference.
In general, the U.S. hotel industry has tended to favor the chain approach during the past 20 years, according to data from STR, the parent company of HotelNewsNow.com. In 1990, only 57% of the country’s room supply was branded. Today, that number is 70%.
But within that overview of supply exists various segment niches that deserve further analyses, said Bobby Bowers, senior VP at the Hendersonville, Tennessee-based research company.
Conference center hotels Chains (28 years); Independents (24 years)
Chain conference center hotels benefit from a consistent occupancy premium of roughly 12.5 percentage points, Bowers said.
The rate side, however, is a different tale: Independent conference center hotels hold a slight premium over their branded counterparts and are better at holding rates during recessions.
Chain hotels, however, consistently post a premium in revenue per available room.
Scott Pusillo of Crestline Hotels & Resorts, which manages both branded and independent properties, said independent conference center hotels are typically much more profitable. “The lack of a fee structure works a lot better in these indie conference centers.”
Bill Hanley of the Lexington Collection Worldwide, a membership organization, shared a similar sentiment: “Their pricing is all-inclusive and generally tends to be a little bit more aggressive than you tend to see in a chain hotel,” he said. “… Unless you can prove a need for a brand, they’re much better off.”
Boutique hotels Chains (12 years); Independents (26 years)
Bowers qualified STR’s supply sample, admitting quite a few independent boutique properties represented are located in Manhattan, which could skew the data.
Hotels In Tennessee - News
Independent boutique hotels hold a rate premium over their branded counterparts. Brands add an extra level of comfort for investors and lenders. NASHVILLE, Tennessee—To brand or not to brand? As hotel owners and investors look to leverage recovering
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Chattanooga Travel, Top Ten Family Vacation Site: Hotels in ...
Chattanooga travel is a favorite option for family getaways. In addition to historic Lookout Mountain’s hands-on access to some of the world’s most ancient and astounding rock formations, popular downtown attractions such as the Tennessee Aquarium, Children’s Discovery Museum, and IMAX Theater provide almost too much to see in one visit.
Downtown Chattanooga, the Tennessee Aquarium and Imax TheaterIf kids like getting wet, they’re guaranteed to have fun in the enormous model of the Tennessee River and Reelfoot lake that winds its way around the Tennessee Aquarium’s plaza. The flowing channel is complete with bubbling fountains and gurgling waterfalls. Families can pack their suits or roll up their pants for a fun-filled session of splashing and wading.
Inside the aquarium, sharks, guitar fish, stingrays, and sturgeon await kids in the Aquarium’s two touch tanks. Twenty-four species of songbirds fly overhead as parents and kids walk through a living forest complete with roaring waterfall, snakes in hollow tree terrariums, and river otters. Ten-foot sand tiger sharks, a giant sea turtle, and over 3,000 tropical fish surround families on their way through an undersea cavern. And hundreds of bright butterflies flit through the Aquarium’s walk through butterfly garden.
Families encounter a six foot alligator and 150 pound snapping turtle in the Delta swamp exhibit. Besides the astounding variety of fresh and saltwater fish, families get an up close look at frogs, octopi, penguins, jellyfish, seahorses, 80 pound catfish, and more turtles on exhibit than in any other public facility in the world.
To see all of the 12,000 species displayed in the Tennessee Aquarium’s two four-story buildings, families should allot at least four to five hours. Since tickets are good for the day, parents are free to break for lunch after one building. Any number of kid-friendly restaurants serving pizza, hamburgers, gourmet hotdogs, and ice-cream are within a short walk from the Aquarium plaza.
Families can purchase a combination ticket for the Aquarium and Imax. This 3-D theater with a ten story screen is just across the street.
Chattanooga Travel and the Children’s Discovery MuseumAlso within a block of the Tennessee Aquarium is the Children’s Discovery Museum. Kids dress up like archeologists and dig for buried dinosaur bones, experiment with rooms full of musical instruments, and soak up knowledge like sponges in the wet and wild River Play exhibit.
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